In the United States, the total demand for silver is up 25% from 2020.
This demand means more people buy and sell silver every day for multiple reasons.
Knowing different facts and statistics about silver can give you the upper hand when it comes to trading.
To learn about seven facts about silver, keep reading!
1. Mexico Is the Top Producer
Countries all around the world produce silver and have sizable markets in the industry. For many years, Mexico has been the leading producer globally, giving us many of the products we use today.
Trailing behind Mexico are Peru and China, leaving the United States at the number 10 producer in the world.
2. Found in Earth’s Crust
Silver can be found in the uppermost layers of the Earth’s crust. However, it is usually found in conjunction with other elements, making it an alloy. After it’s found, it must be refined in order to separate it from other components.
Silver is one of the most abundant metals in today’s world. Now, that doesn’t mean there is an endless supply of it. However, unlike gold, there is a massive availability of it that has yet to be mined, and that’s in circulation today.
Surprisingly, many pieces of silver are discarded each year due to loss of use. These discarded pieces are often found in industrial markets.
Not many people know that silver is an anti-microbial. In other words, silver’s properties allow it to kill germs upon contact.
This beneficial characteristic is the reason it’s used in many industries, including medical, restaurant, and food production fields. This ensures no germs are present when dealing with an abundance of people each day.
5. Most Reflective
Silver is the most reflective metal found in the world today. Once polished, it gives the most precise mirror image in its reflection.
Its reflectiveness gives it many different uses that no other metal can achieve. Often, it’s used for mirrors, scientific tools, telescopes, etc. You can find more information on silver’s uses at Assay Office Silver.
6. Linguistically Compelling
The word “silver” is linguistically common throughout many different languages. In fact, “money” and “silver” are found as synonyms in about 14 differing languages. Additionally, it is impossible to find a rhyming word for itself.
7. Electric Conductor
Electric conductivity is a characteristic many elements have. However, no element is more conductive than silver whatsoever. Since it is the most efficient thermal conductor, it has many uses in today’s world.
You can find silver in many electronics, light sources, generators, etc. Silver leads the conductivity levels, followed by copper and gold. However, since silver is more abundant, it is a better resource overall.
Surprising Facts About Silver
All of these facts about silver will help better educate you over what to expect from the market.
You’ll soon become well-versed in all things silver and be on your way to becoming an expert.
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